More record tax receipts seen in 2025

After a record tax haul in 2024, the Ministry of Finance is preparing for yet another all-time high, around €65-66 billion or even higher, in 2025.

The draft 2025 budget will predict tax receipts rising by at least €2 billion. And this time the extra haul will come from income taxes, not value-added tax or special consumption taxes.

Tax receipts have consistently outperformed estimates since 2021, because of several factors: higher inflation, reflected in higher prices and, therefore, VAT revenue; relatively high growth, with higher incomes and profits leading to higher direct tax revenue; and the digitalization of tax payments and other measures, which cut down on tax avoidance. The abovementioned factors have more than made up for cuts of various taxes, such as the solidarity contribution.

At the General Accounting Office, they are busy refining their revenue...